$8,000 Mortgage Loan Payments and Costs

Home Price

Down Payment

Down Payment (%)

Mortgage Loan Length

Interest Rate

Loan Summary

Use the mortgage calculator to calculate the cost of buying a $8k home. Change the numbers to see different options.
This calc can be used for car loans, debt, real estate, home purchase, etc.

Can I afford a 8,000 dollar house? It depends.
In addition to the mortgage payment, a home also has insurance, maintenance, and taxes.
Taxes can vary drastically by area. A very rough estimate is to not spend more than 30% of your income
on housing.

How do I get a mortgage? A simple first step is to talk to a local banker and fill out a mortgage application. Then consider other offers, either local or online.

How much of a down payment should I make? Here's a little chart that shows monthly payments based on down payment for a $8,000 house.

2% interest

0% down

$29.57/mo

5% down

$28.09/mo

10% down

$26.61/mo

15% down

$25.13/mo

20% down

$23.66/mo

25% down

$22.18/mo

30% down

$20.70/mo

35% down

$19.22/mo

40% down

$17.74/mo

45% down

$16.26/mo

50% down

$14.78/mo

4% interest

0% down

$38.19/mo

5% down

$36.28/mo

10% down

$34.37/mo

15% down

$32.46/mo

20% down

$30.55/mo

25% down

$28.64/mo

30% down

$26.74/mo

35% down

$24.83/mo

40% down

$22.92/mo

45% down

$21.01/mo

50% down

$19.10/mo

6% interest

0% down

$47.96/mo

5% down

$45.57/mo

10% down

$43.17/mo

15% down

$40.77/mo

20% down

$38.37/mo

25% down

$35.97/mo

30% down

$33.57/mo

35% down

$31.18/mo

40% down

$28.78/mo

45% down

$26.38/mo

50% down

$23.98/mo

Should I refinance? If your interest rate is higher than the current market rate, consider refinancing.